Program Overview

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Actuarial Science, MS

The Master of Science in Actuarial Science prepares students with quantitative undergraduate degrees for actuarial professional careers. The program offers a unique blend of coursework for both professional training and advanced techniques and opportunities for experiential learning.

Overview

The program is designed to provide students with the mathematical and statistical foundation needed to assess risks, devise and implement actuarial models, and communicate technical findings clearly and efficiently.

Degree Requirements

Non-Thesis Option

• Two courses chosen from the following:
  • ASRM 510: Financial Mathematics
  • ASRM 561: Loss Data Analytics & Credibility
  • ASRM 563: Risk Modeling and Analysis
  • ASRM 569: Extreme Value Theory and Catastrophe Modeling
  • ASRM 575: Life Insurance and Pension Mathematics
• Electives chosen in consultation with the faculty advisors: 24 hours
• Total Hours: 32

Other Requirements

• MATH 405, MATH 415, MATH 444, and MATH 499 cannot be counted toward this graduate degree.
• Minimum hours required within ASRM: 20
• Minimum GPA: 3.0
• Minimum 500-level hours required overall: 12

Thesis Option

• Two courses chosen from the following:
  • ASRM 510: Financial Mathematics
  • ASRM 561: Loss Data Analytics & Credibility
  • ASRM 563: Risk Modeling and Analysis
  • ASRM 569: Extreme Value Theory and Catastrophe Modeling
  • ASRM 575: Life Insurance and Pension Mathematics
• Electives chosen in consultation with the faculty advisors: 20 hours
• Thesis Research (min/max applied toward degree): 4 hours
• Total Hours: 32

Other Requirements

• MATH 405, MATH 415, MATH 444, and MATH 499 cannot be counted toward this graduate degree.
• Minimum hours required within ASRM: 20
• Minimum GPA: 3.0
• Minimum 500-level hours required overall: 12

Learning Outcomes

• Acquire the mathematical and statistical foundation needed to assess risks.
• Devise and implement actuarial models for life and nonlife applications.
• Use appropriate software to collect, clean and analyze data relevant to actuarial modeling.
• Communicate technical findings clearly and efficiently.
• Complement the academic credentials with professional designations.
• Be acquainted with the Actuarial Code of professional conduct.

Graduate Degree Programs in Mathematics

• Actuarial Science, MS
• Applied Mathematics, MS
• Mathematics, MS
• Predictive Analytics and Risk Management, MS
• Enterprise Risk Management
• Financial and Insurance Analytics
• Mathematics, PhD
  • optional concentrations:
    • Actuarial Science & Risk Analytics
    • Computational Science and Engineering
• Teaching of Mathematics, MS

Actuarial Science and Risk Management

Director: Feng Liang
Program website
ASRM faculty

264 Computing Applications Bldg., MC-382, 605 E Springfield Ave, Champaign, IL 61820

College of Liberal Arts & Sciences

College of Liberal Arts & Sciences website

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ASRM MS Admissions & Requirements
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